I have code red 06. the cams do not rotate. I have a new powerex 100% 460. I loosened the batten. the sail looks good. and loose in the top three panels. I heard about spacers. How do they work? I can't see how spacers can help cams rotate.
Another mast could make a difference. However before you replace an expensive mast, just have a closer look at the cambers itself. As keef already mentioned; cambers are not meant to have a tight fit. You simply take them out of your sail and put them on the mast where they supposed to be when the sail is rigged. Does this feel tight? 
I would just replace the second and/or the third camber from below, with a camber from another sail. You might be surprised with the difference this can make. 
Not Code reds, but when I got my set off NS Warp F2010's, every sail from 5.2 upto 9m had real stuborn cam rotation.It was a bloody nightmare, and at the time I wished I had keep't my old F2009's as they had perfect rotation and needed no cam tuning at all. After spending a whole day tuning all 6 sails, they finally worked fine. For me the trick was to adjust one batten at at time. I started with minimum tension and added tension slowly. Also added a spacer on the two bottom cams. Before buying a new mast, send a windless afternoon playing with your batten tensions, it'll take a while, but there is a pretty good chance that you will improve the rotation:)
